Algert Global LLC Raises Stock Holdings in Iovance Biotherapeutics, Inc. $IOVA

Key Points

• Algert Global LLC significantly increased its holdings in Iovance Biotherapeutics by acquiring an additional 224,482 shares, bringing its total ownership to 280,882 shares worth $935,000.
• Several analysts have recently revised their ratings on Iovance Biotherapeutics, with six analysts issuing a Buy rating, while only one assigned a Sell rating.
• Iovance Biotherapeutics reported a loss of $0.33 per share for the last quarter, falling short of analysts' expectations, and anticipates an EPS of -1.24 for the current fiscal year.

Algert Global LLC boosted its stake in Iovance Biotherapeutics, Inc. (NASDAQ:IOVA - Free Report) by 398.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,882 shares of the biotechnology company's stock after acquiring an additional 224,482 shares during the period. Algert Global LLC owned 0.08% of Iovance Biotherapeutics worth $935,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Iovance Biotherapeutics by 0.9% in the first quarter. Vanguard Group Inc. now owns 27,777,778 shares of the biotechnology company's stock valued at $92,500,000 after acquiring an additional 243,438 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Iovance Biotherapeutics by 28.7% in the first quarter. Principal Financial Group Inc. now owns 4,694,122 shares of the biotechnology company's stock valued at $15,631,000 after acquiring an additional 1,047,335 shares in the last quarter. MPM Bioimpact LLC boosted its holdings in Iovance Biotherapeutics by 11.1% in the fourth quarter. MPM Bioimpact LLC now owns 2,673,905 shares of the biotechnology company's stock valued at $19,787,000 after acquiring an additional 267,191 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Iovance Biotherapeutics by 17.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,430,221 shares of the biotechnology company's stock valued at $17,979,000 after acquiring an additional 360,629 shares in the last quarter. Finally, Man Group plc bought a new stake in Iovance Biotherapeutics in the fourth quarter valued at $17,871,000. Institutional investors own 77.03% of the company's stock.

Iovance Biotherapeutics Price Performance

Shares of IOVA remained flat at $2.23 during trading hours on Friday. The stock had a trading volume of 7,023,737 shares, compared to its average volume of 15,359,864. The company's 50-day moving average is $2.34 and its two-hundred day moving average is $2.90. The stock has a market capitalization of $806.93 million, a PE ratio of -1.81 and a beta of 0.88. Iovance Biotherapeutics, Inc. has a 12-month low of $1.64 and a 12-month high of $12.51.

Iovance Biotherapeutics (NASDAQ:IOVA - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.04). Iovance Biotherapeutics had a negative return on equity of 52.87% and a negative net margin of 161.44%.The company had revenue of $59.95 million during the quarter, compared to analysts' expectations of $67.14 million. Iovance Biotherapeutics has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Iovance Biotherapeutics, Inc. will post -1.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on IOVA. UBS Group cut shares of Iovance Biotherapeutics from a "buy" rating to a "neutral" rating and cut their price target for the company from $17.00 to $2.00 in a report on Friday, May 16th. Chardan Capital lowered their price objective on Iovance Biotherapeutics from $25.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, August 8th. HC Wainwright reissued a "buy" rating and set a $20.00 price objective on shares of Iovance Biotherapeutics in a research report on Tuesday, August 19th. Truist Financial lowered Iovance Biotherapeutics from a "buy" rating to a "hold" rating in a research report on Monday, May 12th. Finally, The Goldman Sachs Group lowered Iovance Biotherapeutics from a "neutral" rating to a "sell" rating in a research report on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $11.90.

Iovance Biotherapeutics Profile

Iovance Biotherapeutics, Inc, a commercial-stage biotechnology company, develops and commercializes cell therapies using autologous tumor infiltrating lymphocyte for the treatment of metastatic melanoma and other solid tumor cancers in the United States. The company offers Amtagvi, a tumor-derived autologous T cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma; and Proleukin, an interleukin-2 product for the treatment of patients with metastatic renal cell carcinoma.